Iran pioneer in introducing Sukuk

The Islamic Republic of Iran was the first country to introduce Sukuk to the financial market, an economic expert said. Mohammad Sajjad Siahkarzadeh noted that while it is said that Malaysia was the first country to issue Sukuk in 1997, the Navab Expressway project in Tehran had been carried out in the same year using Sukuk bonds.
He said Iran devised the operational mechanisms for issuing Sukuks in 1994 and introduced the mechanisms in the second Islamic Banking conference in Tehran in that year………………………………………..Full Article: Source